Diversity Policy. Bank of Queensland

Transcription

1 Diversity Policy Bank of Queensland Version 3.0, 13 July 2015

2 Approver Board Ian Doyle General Manager People and Culture Owner Functional Owner Ian Doyle General Manager People and Culture Level 1 Policy Hierarchy Classification All employees Audience (if restricted) Revision History Version Approval Date Author Description /07/2015 Alison Duncan Conversion into booklet template (08/10/15). No content changes. N/A Mandatory Stakeholders

3 Contents 1 Introduction Purpose Related Policy The Group's Key Objectives The Board Human Resources & Remuneration Committee Nomination & Governance Committee Senior Executives All Other Employees Diversity Knowledge Training General Manager Human Resources... 6 Review Glossary of Terms Appendices... 7 Commercial in confidence Bank of Queensland Limited All rights reserved 3

4 1 Introduction 1.1 Purpose Bank of Queensland Limited (the "Bank") and its subsidiaries (together, the "Group") understands that business performance and productivity are enhanced by a diverse workforce, senior management team and Board. The Group is therefore committed to promoting a culture where diversity is embraced. As part of this commitment to diversity, the Bank has developed the Diversity Policy (the 'Policy'). The Policy is targeted at addressing the underrepresentation of certain groups, and to actively facilitate a more diverse and representative workforce and management structure. The Group is committed to managing diversity and acknowledges, accepts and accommodates the differences between individuals. It is the Group's policy to treat all directors, employees, prospective employees, agents, contractors, customers and suppliers of the Bank and its wholly-owned subsidiaries fairly and equally, and to promote an inclusive working environment. In line with this commitment, the Bank's policy is to value the differences that a diverse workforce brings to the Group and to provide a workplace where: everyone is valued and respected for their distinctive skills, experiences and perspectives; structures, policies and procedures are in place to assist employees to balance their work, family and other responsibilities effectively; decision making processes in recruitment take account of diversity; employees have access to opportunities based on merit; the culture is free from discrimination, harassment and bullying; and employment decisions are transparent, equitable and procedurally fair. This Policy applies to recruitment and selection, terms and conditions of employment including pay, promotion, work assignment, training, transfer and every other aspect of employment, with decisions based on merit. 1.2 Related Policy In order to ensure a properly functioning and diverse workplace, discrimination, harassment, victimisation and vilification will not be tolerated within the Group. To this end, the Group has established BOQ Code of Conduct: Your guide to working with us; Whistleblowing Policy; Workplace Health & Safety Policy, and Harassment, Discrimination & Bullying Policy. 2 The Group's Key Objectives 2.1 The Board The Board is responsible for establishing transparent, measurable objectives for achieving board diversity and articulation of the corporate benefits arising from employee and board diversity. Commercial in confidence Bank of Queensland Limited All rights reserved 4

5 In order to promote the specific objective of gender diversity, this Policy requires the selection process for board appointments to involve the creation of a short-list identifying a diverse range of potential candidates for the appointment, which must include an equal balance of gender. The Board will consider whether succession plans are in place to maintain an appropriate mix of skills, experience, expertise and diversity on the Board. The Board will also consider and review: The recommendations made by the People and Culture & Remuneration Committee in relation to the objectives for achieving gender diversity within the Group, and the initiatives to support those objectives; and The annual reports it receives assessing the effectiveness of the Group's gender diversity objectives, and monitoring achievement of diversity targets. 2.2 People and Culture & Remuneration Committee The Group's People and Culture & Remuneration Committee is responsible for: Assessing the effectiveness of gender diversity objectives, and monitoring achievement of diversity targets across the Group, on an annual basis; Making recommendations to the Board in relation to the objectives for achieving gender diversity, and the initiatives to support those objectives; and Reviewing whether a gender pay equity gap exists across the Group. This will include a report outlining the representation of women at levels within the whole organisation. 2.3 Nomination & Governance Committee The Group's Nomination & Governance Committee is responsible for including gender diversity objectives in Board recruitment, Board performance evaluation and succession planning processes, and ensuring that there is no unconscious bias in the process. 2.4 Senior Executives The Managing Director & CEO will have reference to this Policy in selecting and assessing candidates, and in presenting recommendations to the Board regarding appointments to, the senior executive team. The Policy requires the Board to also consider gender diversity and the objectives of the Policy when considering those recommendations. Senior Manager positions for the purpose of this statement mean Managing Director & CEO, Group Executive, General Manager, General Counsel, Company Secretary, Treasurer, State Manager, Head of, and National Manager as classified by Levels 1-4 of the BOQ Job Grading System. In order to promote the specific objective of gender diversity, this Policy requires the selection process for senior management appointments to involve the following steps: The Executive Committee undertaking formal diversity training to set culture and articulate the corporate benefit arising from a diverse workforce and senior management team; The preparation of a short-list identifying potential candidates for the senior management appointment, which must include an equal balance of gender wherever reasonably possible; and An objective to increase the number of women in senior roles, with a target of 27% of Senior Manager positions to be filled by women, subject to identification of candidates with appropriate skills, by This Policy reflects the Group's commitment to and identification of ways to promote a corporate culture which embraces diversity when determining the composition of senior management, including recruitment of senior management from a diverse pool of qualified candidates. Commercial in confidence Bank of Queensland Limited All rights reserved 5

6 2.5 All Other Employees In order to promote the specific objective of gender diversity, this Policy requires the selection process for recruitment for all other employees and agents of the Group and its wholly owned subsidiary companies to involve the following steps: The recruitment team committing to ensuring an awareness of gender diversity via their recruitment and selection practices; and A review of recruitment and selection processes to ensure they are free from discrimination. 2.6 Diversity Knowledge Training In order to identify programs that assist in the development of a broader pool of skills and experienced candidates, the following are initiatives focused on skills development or more targeted practices relating to career advancement: Diversity training for all Executive Committee members and senior managers; One workshop annually on female leadership training to maximise career potential and awareness of techniques and tools that assist with career success; Incorporation of diversity training into New Managers, Orientation, Emerging Managers, and BOQ Leader Development training and other training events as appropriate and; The removal by external recruitment agencies of gender identifiers on application for senior management positions. This Policy articulates a corporate culture which not only supports workplace diversity but also recognises that employees at all levels of the Bank have a role and responsibilities in fulfilling this objective. Further, the Group recognises that both male and female employees at all levels may have domestic and family responsibilities, and support its employees, the Group has adopted a Flexible Work Policy. 2.7 General Manager People and Culture The General Manager People and Culture is responsible for implementing this Policy throughout the organisation, including: The development, implementation, maintenance and review of the appropriate structures, systems, policies and procedures to support the diversity strategy; Active participation and recognition in annual Workplace Gender Equality Agency (WEGA) reporting with progressive annual initiatives; Review of diversity programs and initiatives to support diversity strategy; and Reporting to the Board and the People and Culture & Remuneration Committee on performance against diversity targets, on implementation of diversity initiatives and gender pay analyses. Whilst the General Manager People and Culture has overall responsibility for the application of this Policy across the Group, all managers and employees are responsible for behaving in a way that does not discriminate against other employees, prospective employees, agents, contractors, customers and suppliers, and are expected to promote the spirit of diversity and equal opportunity policy to the full. Review This Policy will be reviewed at least annually by the Board to ensure its effectiveness. Commercial in confidence Bank of Queensland Limited All rights reserved 6

7 3 Glossary of Terms Employees: - shall be taken to mean Group executives, managers, employees and contractors of the BOQ Group. In addition, this policy applies to owner managers and their employees and contractors. 4 Appendices None Applicable Commercial in confidence Bank of Queensland Limited All rights reserved 7